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Home and commercial property owners looking to take on a remodel should consider undertaking an outdoor project, according to the National Association of Realtors®’ (NAR) and National Association of Landscape Professionals'(NALP) 2018 Remodeling Impact Report: Outdoor Features.

The report takes a deep dive into 13 outdoor residential projects and 10 commercial property projects, highlighting the reasons why property owners complete these projects, the value – both financial and emotional – that these remodels bring, and the increased happiness the finished projects bring homeowners.

“Realtors understand that a home’s first impression is its curb appeal, so when it comes time to sell, a well-manicured yard can be just as important as any indoor remodel,” said NAR President Elizabeth Mendenhall. “Even homeowners with no immediate plans to sell can gain more enjoyment and satisfaction from their home by taking on a project to revive their outdoor spaces.”

When asked which outdoor projects produce the most substantial financial payouts at resale, Realtors ranked standard lawn care service at the top, which recovers 267 percent of the project cost at resale. Next, Realtors named landscape maintenance and tree care, both recovering 100 percent of the cost at resale, and installing an irrigation system, recouping 86 percent.

When it comes to the enjoyment homeowners gain from these projects, a fire feature and irrigation system tied for first, both receiving a perfect Joy Score of 10. Joy Scores range between 1 and 10 and higher figures indicate greater joy from the project.

Eighty-three percent of homeowners who installed a fire feature said they have a greater desire to be home since completing the project, and 69 percent of homeowners who installed an irrigation system said they feel a major sense of accomplishment when they think of the project. The next most appealing projects were a new wood deck (Joy Score of 9.8), a water feature (9.8), statement landscaping (9.7) and an overall landscape upgrade (9.6).

“This report validates that landscaping is an investment worth making, offering the immediate benefits of increased enjoyment of your property, as well as desirable long-term value that holds if or when it comes time to sell,” said Missy Henriksen, NALP vice president of public affairs. “From lawn and tree care to installing a new fire or water feature or landscape lighting, there’s no shortage of opportunities to enhance your landscape and to reap the benefits these upgrades provide.”

This year, the report also covered outdoor projects for commercial properties. The report found that 43 percent of Realtors have suggested a commercial client improve the curb appeal of a property before listing it for sale. The most frequently recommended projects are standard lawn care (39 percent), completing a landscape management service (27 percent) and an overall landscape upgrade (26 percent).

“It is not just homeowners that need to think about curb appeal when it comes time to sell; a beautiful exterior is just as important for commercial property owners. In fact, 81 percent of Realtors said they believe curb appeal is important in attracting a buyer,” said Mendenhall.

If you have a home to sell before you can purchase your new home, here are the steps you’ll need to follow.

First things first –

Meet With Your Realtor

Contact your Realtor and request a Competitive Market Analysis (CMA). This will help you determine how much money you will have to pay for your existing mortgage (or mortgages) as well as your closing costs. This process determines your “net” proceeds from your sale.

Call your Mortgage Professional

Contact your Loan Professional to be pre-qualified for your new mortgage. This process will determine the amount of money you will use from your “net” proceeds.

If you need to sell your current home to qualify for your next home – it’s time to call your Realtor and tell them to put that sign in your yard!

Now is a good time to consider looking at homes that could meet your needs and price range once your home sells. A lot of people do not want to put their home on the market until they know there is somewhere for them to go.

Stage Your Current Home to Sell

Don’t forget to heed the advice of your Realtor in regards to staging and presenting your home for sale.

Check out www.judyhicks.com for more information on what to do to sell your home. Look for future blogpost on what to do when your home sells and you are ready to buy.